Return of the Three-Headed Bond Monster Over Tokyo
The rampage of the vigilantes is running through Greenland to the US.
King Ghidrah blows into the bond market.
Source: LMPC/Getty
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Another monster is roaring in Tokyo. This time, a huge leap in Japanese bond yields and a dose of political uncertainty from a snap election are combining with febrile conditions for the rest of the world as the US presses ahead with its effort to pry Greenland from Denmark. Much like Godzilla’s fearsome foe Ghidrah, this monster has at least three heads. But it’s not clear that all can be attributed to the shock-horror in Japan.